Crypto analyst Egra Crypto has boldly predicted that the price of XRP will outperform Bitcoin and Ethereum. The analyst provided an in-depth analysis that shows that XRP has a much higher multiplier than BTC and ETH.
XRP price to outperform Bitcoin and Ethereum
In the X postEgrag Crypto expected the price of XRP to outperform Bitcoin and Ethereum as it predicts that the XRP market cap could reach between $619.61 billion and $1.56 trillion. With XRP's dominance and market potential, the crypto said it has a much higher multiplier than the two largest coins by market cap.
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Egrag Crypto went further to explain why an explosive rise in XRP price dominance is imminent. The crypto analyst noted that The fastest rate online XRP currently at 3.93% above Fibonacci level 0.382, and if the crypto closes above Fib 0.5 (5.57%), XRP could see double-digit dominance ahead.
Egrag Crypto mentioned that the VRVP of the XRP price shows a gap above 4.30%, meaning less resistance and a smoother road to all time high (ATH) and beyond. The analyst said that the “Green Kaboom Zone” starts at Fib 0.50, indicating a big move forward for the crypto.
Egrag Crypto said that the smaller market cap at the price of XRP offers upside potential. This means that the crypto could enjoy faster leadership growth as it catches up with the broader altcoin rally and takes the lion's share. The crypto analyst identified three key levels to watch for XRP dominance.
This includes Fib 0.0702, which puts XRP's price dominance at 11.44%, and Fib 0.786 and 0.888, which puts the dominance at 15.22% and 21.5%, respectively. At the same time, the crypto analyst predicts that the total crypto market cap it could hit $5.42 trillion or $7.25 trillion if it reaches Fib 1.414 and Fib 1.618, respectively. This would put XRP's market cap at $1.16 trillion or $1.56 trillion if the crypto hits a 21.5% lead.
Rally To ATH remains a short-term target
Having already achieved a year-to-date (YTD) gain of just over 200%, the short-term target for XRP price is a rally to its current ATH of $3.80. Crypto analyst Javon marks he suggested that XRP could reach this target soon as he expected to rally to a new HIGH of $4.8.
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He noted that the price of XRP was touching the Expect $2.47 and broke above it shortly before dropping to this resistance level again. However, with this representing a low time frame bull signal, a move above this resistance level could be imminent, which Marks predicted would pave the way for a rally to $4.8.
At the time of writing, the price of XRP is trading at around $2.19, down more than 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
